Verify and learn about different Bitcoin address formats
Format: Starts with 1... (34 characters)
Example: 1BvBMSEYstWetqTFn5Au4m4GFg7xJaNVN2
Advantages: Universal support, Simple format
Disadvantages: Higher fees, Larger transaction size
Format: Starts with 3... (34 characters)
Example: 3N98t1MbEE73cDNwjeciry1mrnqRWhNLy
Advantages: Multi-sig support, Script flexibility
Use Cases: Multi-signature wallets, Smart contracts
Format: Starts with bc1q... (42 characters)
Example: bc1qar0srrr7xfkvy5l643lydnw9re59gtzzwf5ndq
Advantages: Lower fees, Better scalability, Enhanced security
Considerations: Wallet compatibility, Recommended for most users
Format: Starts with bc1p... (62 characters)
Example: bc1pxxlv7henj6s6d4uy22auqetcuph7lxn98k32ke72q4khcz7yq2k5jj0
Advantages: Best privacy, Lowest fees, Most efficient
Future Benefits: Smart contract potential, Scalability improvements
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